IMG (Independent Monitoring Group)March 2004

Friday March 5, 2004 - The IMG was pleased to meet with Prime Minister Roosevelt Skerrit , accompanied by Financial Secretary, Ambrose Sylvester and Senior Economist in the Ministry of Finance, Rosmund Edwards. The IMG was represented by Chairman, Justice Albert Matthew, Mr. Rawlins Jemmott, Mr. Kieron Pinard-Byrne and Mr. Atherton Martin. Dr. Clayton Shillingford was out of state and the ECCB representative was unable to be in attendance.

This meeting was in response to a request from the IMG for an opportunity to discuss the reports of the Group and in particular, to review the recommendations for economic growth to date.Following an update on the state of the economy provided by Prime Minister Skerrit and the Financial Secretary, the meeting engaged in detailed discussions on the many measures proposed for stimulating growth and economic recovery that were included in IMG Reports of November 2003 and February 2004.

Receiving favourable attention from the Prime Minister and his Team were IMG proposals for

stimulating domestic and external private investment,

strategies for mobilizing development finance and

measures for getting agriculture and tourism moving.

The meeting discussed mechanisms for engaging the private sector, civil society and the Government in actions aimed at early implementation of the IMG proposals.

The IMG emphasized the importance of having a national plan that coordinates and integrates the several sector initiatives for economic recovery and growth. In this regard, the Prime Minister informed the IMG that he would require one month and a half to consider the IDP.

The IMG is satisfied that its proposals received the careful attention of the Prime Minister who was able to provide details of ongoing and planned public sector initiatives that are consistent with the IMG proposals. There was agreement that these discussions become a regular feature of the work of the group. In his closing comments, the Prime Minister noted the importance of the IMG and assured the meeting of his support for its work.